VUKOVAR, Jan 10 (Hina) - An agreement was signed in Croatia's eastern town of Vukovar Wednesday by "Croatia Bank", the international labour organisation and the European guarantee fund. The agreement, aimed at reviving and
establishing sustainable development of war-stricken areas of Croatia, is intended for granting loans to agriculture and small-scale businesses totalling a million US dollars. The European Union and Croatia Bank secured fifty per cent of the amount each. Residents of the specified regions will be able to take out loans with an eight per cent annual interest rate and a maturity rate of three to 36 months, depending on the activity for which the loan is intended. Expressing satisfaction with the signing of the agreement, head of the EU delegation in Croatia, Per Vinther, said this was an important part of EU's continuing efforts to assist the revival of the Croatian Danube River region. Negotiat
VUKOVAR, Jan 10 (Hina) - An agreement was signed in Croatia's
eastern town of Vukovar Wednesday by "Croatia Bank", the
international labour organisation and the European guarantee
fund.
The agreement, aimed at reviving and establishing sustainable
development of war-stricken areas of Croatia, is intended for
granting loans to agriculture and small-scale businesses totalling
a million US dollars.
The European Union and Croatia Bank secured fifty per cent of the
amount each.
Residents of the specified regions will be able to take out loans
with an eight per cent annual interest rate and a maturity rate of
three to 36 months, depending on the activity for which the loan is
intended.
Expressing satisfaction with the signing of the agreement, head of
the EU delegation in Croatia, Per Vinther, said this was an
important part of EU's continuing efforts to assist the revival of
the Croatian Danube River region.
Negotiations on Croatia's stabilisation and association with the
EU will end by spring. Although the existing project of our
arrangement has come to a close, we are looking for new ways of
Croatia's cooperation with the European Union and we hope Croatia's
ensuing full recovery will reflect on this region, Vinther
stressed.
He added EU efforts will in the future focus on new jobs in Croatia.
Vukovar-Srijem County prefect Petar Cobankovic said he was hopeful
the assistance project will help the wounds of war heal as soon as
possible.
Croatia has until now needed the assistance of the international
community in implementing the peaceful reintegration of the region
and in establishing inter-ethnic trust, he said.
"Now that we can solve problems by ourselves we need assistance in
economic revival and development," Cobankovic asserted.
(hina) lml